Given the proximity of the end of the year, we remind you of your obligation to organise and take an inventory of the property, a compulsory activity prescribed by the Accounting Law no. 82/1991 as subsequently amended and supplemented [1].

NB! The failure to comply with the regulations on taking the inventory is a contravention and shall be punished with a fine ranging from RON 400 to RON 5,000.

Furthermore, according to the accounting regulations in force, in order to prepare the annual financial statements, entities must proceed with taking the inventory and valuating items such as assets, liabilities and equity.
In other words, in the annual financial statements items such as assets, liabilities and equity shall be reflected and valued at book value reconciled with the inventory results.

Therefore, the compliance by companies with the requirements for an inventory of the property is not only a legal obligation. Taking an inventory and conducting a valuation as at the date of the financial statements of items such as assets, liabilities and equity by taking into account the inventory value is an essential element in ensuring a true and fair view of the assets, liabilities, financial position, profit or loss of the entity in the financial statements so that their users might be able to take the best decisions.

FINEXPERT Assistance


FINEXPERT can assist with the inventory using the Customer’s own employees, in accordance with the Customer’s own inventory procedure, by providing assurance that all the documents related to the inventory process are drawn up and that the results of the inventory taking are properly capitalized in the accounts.

FINEXPERT may take part in the Inventory Committee under a contract for the provision of services as a legal person with proper training.

You may find further details on the inventory taking process here.

[1] Art. 7: “The persons referred to in art. 1 are required to take a general inventory of items such as assets, liabilities and equity held at the start of the business at least once during the financial year and in case of merger, division or liquidation, and as otherwise prescribed by law”

Any presented information is general and is not meant to address the specific conditions of a particular individual or legal person. Although we try to provide accurate and up-to-date information, there is no warranty that such information is accurate at the time of its receipt or that it continues to be accurate. No action should be taken based on this information without relevant professional assistance following a careful examination of the circumstances that are typical of a particular state of affairs.